Acting for the environment
In November 2015, Solvay set a long-term objective regarding greenhouse gas emissions: to reduce its Greenhouse gas emissions intensity by 40% by 2025 vs. 2014.
In September 2018, Solvay launched a new step with a new long term target - Solvay committed to reduce its absolute GHG emissions of its operations by 1 Mt CO2 by 2025, compared with the 2017 level, at constant scope. Effectively fighting global warming requires decreasing GHG emissions in absolute value.
Solvay is disconnecting its GHG emissions from its growth prospects. This commitment is putting Solvay at the forefront of the chemical industry in the fight against climate change, with the hope its level of ambition will soon spread throughout the industry.
Furthermore, since January 1, 2016, Solvay has applied an internal carbon price of €25 per metric ton CO2 equivalent on greenhouse gas emissions, to take into account climate challenges in its investment decisions.
An externally verified and structured greenhouse gas emission reporting system and responses to rating agencies such as the Carbon Disclosure Project help the Group align its efforts on the effectiveness of its greenhouse gas challenges.
Key levers to achieve our objectives:
- Continuously improve energy efficiency
- Improve the CO2 footprint of our energy mix through initiatives such as conversion to biomass firing or renewable electricity sourcing
- Reduce GHG emissions released from our chemical processing operations
- Apply an internal carbon price (€25/metric ton of CO2 eq.) to GHG emissions in all our investment decisions
- Include a metric on GHG intensity in senior management remuneration
Solvay committed to reduce its absolute GHG emissions of its operations by 1 Mt CO2 by 2025.
Solvay is committed to the UN Climate Change conferences and strongly supports the implementation of the Paris Agreement.
Putting in place a “price signal” is a powerful tool of involvement. With this internal carbon price, Solvay will take into account climate challenges in its long-terms economic decisions.
The protection of the environment is for Solvay a key condition for doing business. In line with our Responsible Care® policy, we want to make our products in a manner compatible with a clean, safe and healthy environment.